By Hiran H. Senewiratne

CSE trading set off on a negative note yesterday but later bounced back slightly. The reason for the fluctuating trend was attributable to stock market brokers reducing their debt component, market analysts said.

Further, shares edged- down in mid- day trade on thin volumes as the market experienced selling pressures and profit- taking, an analyst said. “The market is down as the selling trend continues, as there is a price decline in all shares across the board, combined with the month ending, followed by margin calls, market analysts added.

Amid those developments both indices moved downward. The All- Share Price Index declined by 51 points and S and P SL20 went down by 11.87 points. Turnover stood at Rs 861 million with one crossing. The crossing was reported in NDB, which crossed 470,000 shares to the tune of Rs 20.2 million, its shares traded at Rs 43.

In the retail market some companies that mainly contributed to the turnover were, Lanka IOC Rs. 103.8 million (640,000 shares traded), Expolanka Holdings Rs 86 million (660,000 shares traded), ACL Cables Rs 83.4 million (one million shares traded), Sampath Bank Rs 76.4 million (1.3 million shares traded), Browns Investments Rs 38.8 million (6.2 million shares traded) and JKH Rs 32.9 million (235,000 shares traded). During the day 43.98 million share volumes changed hands in 12746 transactions.

It is said that high net worth and institutional investor participation was noted in NDB and Aitken Spence Hotel Holdings. Mixed interest was observed in Sri Lanka Telecom, Lanka IOC and Tokyo Cement Company nonvoting, while retail interest was noted in Browns Investments, LOLC Finance and Renuka Agri Foods.

The Food, Beverage & Tobacco sector was the top contributor to the market turnover (due to Browns Investments), while the sector index lost 0.49 per cent. The share price of Browns Investments recorded a loss of 10 cents, coming down to Rs. 6.40.

The Capital Goods sector was the second highest contributor to market turnover, while the sector index decreased by 1.77 per cent. Sri Lanka Telecom, Aitken Spence Hotel Holdings, NDB and Lanka IOC were also included among the top turnover contributors.

Meanwhile, in the Treasury bond market, yields were up at open on yesterday, dealers said.

A 01.07.2025 bond was quoted at 31.00/30 per cent yesterday, up from 30.75/31.00 per cent on Monday. A 15.09.2027 bond was quoted at 28.25/29.00 per cent, up from 28.10/60 per cent from Monday. The Sri Lanka rupee opened at 322/327 against the US dollar, steady from 322/325 a day earlier, Central Bank sources said.

Reiterating its commitment in demonstrating innovative campaigns that have not only set a benchmark in the industry, but also contributed to making a difference for consumers at large, SLT-MOBITEL, the National ICT Solutions Provider was bestowed with two Bronze and a Merit award at the Effie Awards 2022 held recently. SLT-MOBITEL was the sole Telco provider to win awards under the Internet/Telecom category.

Organized by the Sri Lanka Institute of Marketing (SLIM), the Effie Awards Sri Lanka edition is part of the world-renowned international awards programme, recognising all forms of effective local marketing communications that contribute to a brand’s success. The coveted event is highly anticipated and celebrated by the marketing fraternity, both locally and globally, as the most distinguished honour in the industry. The Effie Awards Sri Lanka 2022 marked its 13th edition and focused on the creative work and effectiveness of campaigns during turbulent times.

SLT-MOBITEL campaigns that won Bronze awards were the ‘Triple Buddy and ‘Non-Stop Lokka’. For the SLT-MOBITEL Mobile Triple Buddy campaign’ the company introduced a competitively priced bundle for most famous social media platforms such as Facebook, WhatsApp, and YouTube, thus targeting teens and young adults. Adding to the resounding success of the campaign was the company’s brand ambassador, Falan Andrea. Her immense social media following was utilized to spread the message along with SLT-MOBITEL’s integrated media rollout which targeted every person from across Sri Lanka.

In addition, the Nostop Lokka, campaign for SLT-MOBITEL Mobile addressed competitor pressure on data access and apps. ‘Non-Stop Lokka’, offered nine (09) apps, enabling customers from all categories to connect with the most famous social media applications in a hassle-free manner. The campaign was immensely successful, with outstanding results and continued during the year positioning SLT-MOBITEL as an innovative leader.

SLT-MOBITEL Fixed received the Merit Award for its campaign SLT-MOBITEL Fibre under the theme ‘Revolutionizing the Internet with SLT-MOBITEL Fibre’. SLT-MOBITEL, recently enhanced its Fibre facility, which is Sri Lanka’s first, fastest and widest premium connectivity bandwidth to 200Mbps download speed and 100Mbps upload speed. It made the customer experience uninterrupted, with instant downloading and uploading, even with multiple devices. Also, streaming videos or watch other livestreams in Ultra HD, enjoying lowest latency for gaming and providing crystal clear UHD picture quality for PeoTV were the value additions to SLT-MOBITEL Fibre users.

Conceptualizing and partnering SLT-MOBITEL for the campaigns were Phoenix Ogilvy and Ogilvy Media.

One of Sri Lanka’s leading licensed finance companies, Mahindra IDEAL Finance recently marked its 11th Anniversary. The event was celebrated with special festivities and programmes, at the Company’s Head Office – which was also its first location – and across its network. Since its founding, Mahindra IDEAL Finance has grown to include an Islandwide network of 27 branches, providing customers with easy access to gold loans, fixed deposits, leasing and other financial services. On the 28th of January 2022, the Company, which commenced operations as IDEAL Finance Limited on the 26th of March 2012, was acquired by Mahindra and Mahindra Financial Services Limited, India, giving it the competent backing of a global financial services giant, and has assisted to transform the company into one of Sri Lanka’s foremost non-bank providers of financial services.

Discussing the incredible journey of Mahindra IDEAL Finance, Duminda Weerasekara – CEO said, “By staying true to our vision of being the ideal financial partner in creating wealth and enriching the lives of our customers, we have grown over the past 11 years to become one of the most recognized names in the industry. The support of our parent company, together with the keen foresight and strategy of our leadership team, has helped us to create a brand that is not just synonymous with exceptional customer experiences, but also a sought-after institution with which to build careers. This has enabled us to create a positive feedback loop of attracting and retaining exceptional talent, who can deliver outstanding services to our customers. We take this opportunity to thank our customers for choosing to partner with us on this journey.”

Mahindra IDEAL Finance holds an “AA-(lka) Watch Negative” rating from Fitch Ratings Lanka, while also having achieved the title of “Great Place to Work” for 4 consecutive years. The Company’s welcoming open culture, dynamism and adaptability to quickly changing market conditions, also earned it the title of “Great Place to Work for Millennials” in 2022. Mahindra IDEAL Finance Limited (MIFL) is a Non-Banking Financial Institution (NBFI) registered with Central Bank of Sri Lanka and places emphasis on rural and semi-urban markets. Its lending portfolio consists of gold loans, leasing facilities for motorcars, three-wheelers, agriculture vehicles and commercial vehicles. The Company maintains a high-quality lending portfolio, while consistently recording sustainable annual growth.